How should I handle my tire shop’s disposal records and scrap tire hauler when selling?
Gather every disposal record you can, put them in date order, and keep copies for yourself. Tell the hauler about the sale in good time, confirm what the buyer will inherit, and be ready to show where tires went. Buyers will ask, and gaps in the paperwork raise doubts quickly.
Pull together whatever you hold: pickup slips, invoices from the hauler, any receipts showing where tires were taken, and notes about stockpiles. Put them in date order and note any gaps. If a record is missing, find out whether the hauler can supply a copy. A buyer reading an organised file is likely to trust the rest of your business more.
Next, talk to the hauler. Ask whether the arrangement can continue under new ownership and whether a fresh agreement is needed. A buyer may prefer to use their own hauler, so agree early who will tell whom. Check what is on site on closing day, because old stock left behind becomes the new owner’s problem.
Finally, ask your lawyer how responsibility for past disposal is handled in the sale agreement, and ask your environmental adviser whether anything on the site needs a check. Keep copies after closing in case questions arrive later. Think about the people too. Staff who load tires and speak with the hauler hold knowledge the buyer will need, such as pickup days and how loads are sorted. Write that routine down in a page or two. It costs little and shows the buyer that the yard has been run with care.
Key takeaways
- Organise disposal records by date and fill gaps with copies from the hauler.
- Tell the hauler early and agree what continues after the sale.
- Clear the yard before closing, and have a lawyer address past responsibility.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaIndustryHow to sell your business
- 03Business Development Bank of CanadaGovernmentWhat is a confidential information memorandum (CIM)?
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